Designation as systemically important will likely keep AIG single for now

Wedding bells are ringing for insurers. But one of the industry’s biggest firms isn’t likely to find its way to the altar soon.

The ACE-Chubb deal announced Thursday will cause “virtually every insurer to reassess if they should remain independent,” as Sandler O’Neill said in a note. In a different era, American International Group would naturally have been among those jumping into the fray. It is, after all, the goliath of U.S....